New Boom radio station for older generation has fastest growing audience.

You may remember the review in the August newsletter of a bestselling book by longevity expert and former venture capitalist, Susan Wilner Golden, about recognising the commercial value of the mature market and how to capture it. In ‘Stage (Not Age): How to Understand and Serve People Over 60—the Fastest Growing, Most Dynamic Market in the World’, she says that instead of seeing older people as a drag on the market, commerce should see them as a new market with exciting possibilities. A ‘booming’ example of her wisdom is being seen here right now in the UK, where Boom Radio, a new radio station deliberately aimed at the older generation has doubled its audience in two years and is set to reach its target of one million listeners within 18 months. The only impediment to growth could be convincing the advertising agencies of Soho - staffed by younger generations - that there is money to be made from giving older people what they want.

Boom Radio is an independent, commercial, national radio station aimed at baby boomers, the generation of people born between 1946 and 1964, and is the first radio station in the UK to specifically target this age demographic. It has echoes of Radio Caroline in the 1960s, the pirate radio from ships at sea who were broadcasting without a licence. But instead of broadcasting from boats, Boom comes over the airwaves from the bedrooms, basements, and sheds of its presenters. It’s a very today phenomenon – a station without a physical footprint. But it’s not without ‘presence’ - a string of big names have been tempted out of retirement to present shows including David Hamilton, Judy Spears, and Graham Dean, playing records from the 50s, 60s and 70s, with classics from the likes Frank Sinatra, the Beatles and Abba and more of the Boomer’s era. David Hamilton, 84, and Pete Murray, 97 (remember him?) have teamed up to record a Christmas special. With a combined age of 181, they will be the oldest presenting duo in radio history. And recently launched is Boom Light, a spin-off station aimed at the older end of its demographic. It’s also been thinking about podcasting and launching a premium, add-free version.

Boom was launched two years ago by industry veterans Phil Riley and David Lloyd, the movers behind brands such as Heart and LBC. They saw a gap in the market for older listeners, and decided to fill it. ‘I don’t think there’s another radio station that ever attempted to do what we are doing, which is launch a mainstream brand to try and attract a large audience on our own without anybody’s help or backing,’ says Riley, ‘we’re just a bunch of old mates with a dream.’ (Telegraph Business 2022.11.06)

The station’s popularity is underscored by recent listening figures from industry body Rajar. Its audience has more than doubled over the last twelve months to 443,000 a week making it Britain’s fastest-growing radio station. Monthly revenues have grown from roughly £60,000 earlier this year to 220,000 in October, while its low-cost base means it’s now turning a profit. Looking at its next stage of development it has raised £1 million from shareholders – around two dozen friends and industry colleagues – taking its total raised so far to £1.5 million.

Audio specialist James Criddle says Boom is an incredible success story, partially because of the way it’s managed to get a sizeable audience in very little time, and also because it’s a radio station without an actual radio station.’ But also, without doubt, because of the talents and experience of its presenters.

Commentators say Boom is capturing an audience that is being disenfranchised by the BBC. Radio Two has altered its offering in its push for younger audiences, and has seen an exodus of high profile presenters such as Steve Wright, Graham Norton and Simon Mayo leaving after years of service. The BBC’s policy doesn’t make sense when it has an established market on Radio Two for older listeners and for younger listeners on Radio One. Boom founder Phil Riley says that their most passionate response is from listeners who say, ‘It’s great I found you, I’ve stopped listening to Radio Two because it no longer completely satisfies my tastes.’

Although Boom’s expansion plans come just as the advertising industry begins to feel the effects of the recession, Chairman David Elms says, ‘you have to believe that just as Boom has highlighted the opportunity to have a specific radio station for the baby boomers, the advertisers will see the opportunity.’ Perhaps he should send them a copy of Golden’s book!